Thursday, November 20, 2008

Throwing good money after bad

Let's kill the whole auto bailout.

The guys in the private jets from Ford, Chrysler, and GM say if we give them "only" $25 billion, they could go out of business. Well, if giving them $50 billion is too much (and it is) and giving them $25 billion is not enough though it is the only viable political option, then it doesn't really matter if we call the $25 billion a loan, does it?

I prefer the term "government waste."

Promising to spend money they didn't have and couldn't earn got them into this mess. Doesn't make much sense to "loan" them anything we can't afford to burn, does it?

Bankruptcy organization looks like their best option.

And as far as "saving the jobs" goes: how long should we prop up jobs that the marketplace says we don't need. Is someone going to do that for you if your job becomes obsolete?